A major British investment fund headed by a prestigious player in the City of London could be putting money into Low Energy Nuclear Reaction (LENR) research including possibly Andrea Rossi’s e-cat technology.

Woodford Investment Management has joined Cherokee Investment Partners in investing in LENR research, Cherokee’s CEO and Founder Tom Darden revealed in an interview with Fortune. Darden did not reveal the extent of Woodford’s investment or say exactly what LENR projects it was funding.

Woodford Investment Management is a relatively new fund organized by Neil Russell Woodford CBE. CBE means Commander of the British Empire for my fellow Americans so he has been honored by Her Majesty the Queen.

Woodford is an investment industry veteran who previously ran the Invesco Perpetual Income and the Invesco Perpetual High Income Founds. At Invesco Perpetual Income Woodford managed around $15.75 billion (£10.60 billion) in funds, at Invesco Perpetual High Income he managed around $20.74 billion (£13.64 billion). He also worked as Head of UK Equites at Invesco Perpetual.

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there is also interesting quote about

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When asked why he invested in LENR, Darden noted that he is aware of nearly 50 reported positive cold fusion tests. He mentioned work at the US National Laboratories at Oak Ride and Los Alamos and SRI (possibly Michael McKubre’s work). He also mentioned work at the Electric Power Research Institute or EPRI. The EPRI is a think tank and research organization associated with the US electric power industry.

I know propably what he talks about at EPRI, Oak Ridge...He have done his homework.

Some more details on Woodford's investment in LENR: Their Woodford Patient Capital Trust plc fund participates currently in [lexicon]Industrial Heat[/lexicon] for 1.73% of the fund's total portfolio. Private investors can invest in this fund as well. Mind you that there are at least three parties charging costs: The broker, Woodford and [lexicon]Industrial Heat[/lexicon].

I’m very unhappy to see the fund investing 1.72% in [lexicon]Industrial Heat[/lexicon], a “cold fusion” specialist. I wonder what due diligence was done given the widespread scepticism about this technology which would appear to violate all the known laws of Physics.I am led to question the diligence applied to the other investments. I’ll be pleasantly amazed if this company is still in the portfolio in six years.

Many thanks for your comment and we’d like to reassure you that we do follow a thorough due diligence process for all our investments, irrespective of their size or the fund they are invested in.With regard to [lexicon]Industrial Heat[/lexicon], we were, and have been, very aware of the scepticism about this technology. We have undertaken a rigorous due diligence process that has taken two and half years. The company is currently working with numerous scientists and is acquiring both the technology and teams required to maximise the potential of this, and other, new energy technologies.

The company recently said that it is willing to invest time and resources to see if this technology might be an area of useful research in its quest to eliminate pollution. We share this quest for what we believe will be a significant development and exploitation of new energy sources.

This is what you need to start some industrial scale infrastructure. Not so much in fact compared to the need.

I make a quick computation based on some rules of thumb I've heard of.

With such capital, you can leverage more money and borrow maybe 10x.

And with that movey (investment, payroll, parts) you can start production of good of similar value (margin, even in hightech is not much more than 50%)...200Mn borrowed, 400Mn manufactured products... 400 1MW E-cat ?Once they are paid, you can build more with the cashflow...Not so fast growth, even if money turn fast.They will need partnership to leverage.

Investment objectiveTo achieve long-term capital growth through investing in a portfolio consisting predominantly of UK companies, both quoted and unquoted. The Company will aim to deliver a return in excess of 10% per annum over the longer term. (Note: this is a target only and not a profit forecast and there can be no assurance that it will be met.)

Investment policyInitially, the portfolio is expected to be dominated by mid- and large-cap listed, mature companies that offer growth opportunities. It may also have an allocation to cash, pending investment in early-stage and early-growth companies. Over time the exposure to listed, early-stage and early-growth companies will gradually build towards an anticipated portfolio consisting of:

25% invested in mid/large listed mature companies

25% invested in early-growth companies (typically quoted but may be unquoted)

Investment objectiveTo provide a reasonable level of income together with capital growth. This will be achieved by investing primarily in UK listed companies.

Fund size (GBP)£6.94bn

Highlights

Investment highlights

A unique investment propositionThe original Woodford fund, completely focused on delivering attractive long-term returns for investors through investment in quality companies that can deliver sustainable dividend growthInvestors expect a positive return and that is what we aim to deliver over the long term – protecting capital is keyWe aim to offer investors capital growth and a growing income stream, paid quarterlyWe focus on the long term – we don’t know what will happen tomorrow but we do know what drives markets over time

An outstanding fund manager for more than 25 yearsNeil Woodford is regarded as one of the finest investors of his generation and was appointed Commander of the British Empire (CBE) in 2013 for services to the economyHis constant and enduring approach to investment has consistently delivered outstanding long-term performance to investorsSupported by a dedicated team who share his approach in pursuit of investment excellence

A proven and distinctive approachWe only invest when there is a compelling long-term opportunity – we will not invest in stocks just to make the fund look more like the indexThe fund will at times behave in a very different way to the overall market – we are happy to go against consensus to deliver long-term returnsWe believe we can beat the market over the long term

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6940M GBP * .26%=18M GBP -> 27M$

I don't know if it is independent investments, of if one contain the other indirectly, but if you add them that is nearly 50M$ of capital.

Mind you, to play devil's advocate: Black Light Power have also received figures of the same order, and they don't seem any closer to releasing a product. I wonder if large institutional investors have also performed the necessary due diligence on them?

Having said that, no-one at Woodford could fail to notice the controversy surrounding Rossi, they even tacitly acknowledge the fact by suggesting the due diligence took 2.5yrs. Yet the investment was made?

For Blacklight Power the investment was made in the 90s, when the hop of shor term application was far, sot it was a bet.[lexicon]Industrial Heat[/lexicon] does not propose long term research on mW devices, but industrial devices for MW applications. The due diligence is not the same, the target is not either.

Anyway it is risky, and I know any investment in a working LENR reactor can fail miserably for thousands of non technical reasons.

Morningstar OBSR analysts have awarded the CF Woodford Equity Income fund a Bronze rating. The fund is managed by Neil Woodford, who founded Woodford IM in 2014 after his departure from Invesco Perpetual, where he'd earned himself a legendary reputation as the long-term manager of the IP Income and High Income funds as well as the Edinburgh Investment Trust (EDIN)....

There is no credible evidence that Blacklight Power's scheme works nor that there is a single working high power (over 100W) source of power from LENR anywhere. Credible evidence is a test from a renown university officially, not by a few peculiar professors. It could also be from a national laboratory or major completely independent testing institution. It would need to be replicated at least once. Those criteria have not been met even though Rossi said he heated an entire building with an ecat in 2007. THAT should tell you something but it doesn't seem to!

And Barty, I don't have an intent to troll, but to say what I honestly think. I am able and willing to do that as myself, and face the facts if I am wrong.

Maybe it is hard for you to believe, but I am trying to be as honest as I can. For my aggressive style, I am truly sorry.

UFO and stuff is far too trivial to debunk. This is far more interesting, because I can see a slight chance I am wrong. Would actually make me as happy as you. You see, I would be fascinated to look at new picture of the reality.

Tyy
: and why is the US NAVY Lab agreeing the results of Rossi, based on their own work?

It's important to know more about the involvement of the Navy lab. Sometimes the opinions of employees of an organization are just their own, even when a slide deck carries the logo of the institution they work for. The logos on the slide deck generally cannot be taken to imply that an official position is being communicated.